Hi WSO community,
I have been watching tutorials on modeling but have recently taken the initiative to actually practice them. However, I have not been able to find many problems/cases for DCF, LBO or M&A.
Do you have any LBO, DCF, and/or M&A cases to practice? Basic or complex. Anything would be helpful.
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Should I practice LBO-ing on my own right now? Senior in college (Originally Posted: 01/05/2012)
lbo models are really the only type of model I got to really understand fully over my summer IBD stint, and I know they're going to be critical when it comes time for PE recruiting (over a year away for me, I'm a senior in college.. But 15 months really isn't that much time, is it?).
Here was my plan: every Sunday morning, wake up, get my hungover act together, print out some financial statements of a random company, and build an lbo model from scratch. Do this at least until my real work starts in August.
Pros: I'll have LBO modeling down I'll stimulate my brain and it'll prevent me from forgetting completely what I did over the summer I'll get more familiar with financial statements and basic modeling (excel, accounting, etc.)
Cons: It'll prob take me 2+ hours per week (3-4 hours in the beginning probably.. I still don't see how a 1 hour model is even possible, maybe with a ton of practice...) ??
I'm coming from a not-very-highly-regarded group from MS/GS, so I think I'll at least have a good chance of getting interviews at a decent number of PE firms.
Haha nice troll post.....unless it's not, in which case I hope you chill out. Enjoy your senior year please.
I'm actually serious... Wouldn't spending 80-150 hours to help get a job at a top tier PE firm (or any PE firm at all) be worthwhile (I mean, some people spend more time than that studying for the GMAT which is way less important than work experience)? My question is if all that practice would make any difference in getting a PE job.
skip the balance sheet and you should be able to spend an hour every week instead of two
I was planning 2 hours a week with the balance sheet skipped O_O;;
I'm going to need a lot of practice.
By your third week you should be able to do it in slightly more than an hour.
Hmm... that's actually a pretty smart idea. Why not. You probably would get pretty acquainted with the model after the 3rd go. Besides, from my understanding, PE recruiting happens within the first year of banking, so you can't always count on your workload to give you the necessary training.
you need to practice to do them in 30 mins, do parts in your head, and napkin LBOs...
No dude, you will have plenty of time on the job. Enjoy the life you have now, you soon will have no life
goldman - bro, please take it easy. You'll get the experience you need for PE shop interviews during your banking stint. No point trying to jump ahead of the curve. I'd rather spend that time playing a sport or anything else you're really passionate about, because when IBD starts - you're gonna be hooking up and getting laid by so many 'LBO' models, you're gonna want to cry.
goldman - bro, please take it easy. You'll get the experience you need for PE shop interviews during your banking stint. No point trying to jump ahead of the curve. I'd rather spend that time playing a sport or anything else you're really passionate about, because when IBD starts - you're gonna be hooking up and getting laid by so many 'LBO' models, you're gonna want to cry.
I agree, enjoy your senior year and if you really want to...maybe spend a few hours every few months reviewing to keep what you learned fresh...but sundays are for fun, enjoy them.
If this is fun for you, go for it
Once a week would be overkill. Hell, once a month would be overkill. After the first few times, you'll find it becomes pretty easy. Do what you want. After 3x of doing it, you'll realize you only need to practice it as a refresher once every few months. If you come into your analyst stint with a good modelling skillset, you will find your learning curve that much steeper in the first few months as you can focus on understanding the dynamics of your industry.
As for the replies above, though I agree doing this weekly would be excessive, I fail to see how 2 hours a week detracts from anyone's social life.
Agree, except that the learning curve would be less steep. Also, a lot of your "value add" if you can even call it that, as an analyst comes from your ability to explain or have a rationale for why numbers will trend the way they do (i.e. I noticed capex in 2014 starts ramping, why is that? oh they are looking to expand and purchase plants in x state where the assumption is they will save money on state taxes, etc.) The point is that if you aren't struggling with the mechanics of the model, you have more time to look into the drivers/destroyers of value and subsequently weigh in on rationale for certain results.
Thanks for the feedback. After the third week or so, if I find that it's not too difficult, maybe I'll cut it down to once a month or whatever.
RE Modeling Practice (Originally Posted: 08/17/2016)
I have recently completed a few online RE Modeling classes in preparation for my departure from brokerage. The classes have been great but before I begin applying for job I want to be much more confident in my skill level. A buddy of mine sent me a modeling test he was asked to complete by a local REPE firm that I slowly worked through and learned a ton. I wanted to see if anyone had modeling tests they were asked to complete they wouldn't mind sharing with me. Realistically my move out of brokerage would be to an entry-level financial analyst role or acquisitions analyst role if I play my cards right.
I'll trade you a modeling test I have for the one you had for REPE? PM me if you want to do this.
Shoot me a PM
I would also be interested in some. I have a test from a small REPE and another from a BB
Can we circulate some of these? dropbox maybe?
That would be incredible if possible
I second what CRE- said! I'm happy to add models/tests of my own
Can someone set this up?
If you feel so inclined, it'd be great if you could share them at the google drive below.
https://drive.google.com/drive/folders/0B5QD2Kz4n4a4UmlYSlRfVi1mNVU
I got a Prudential one I'll upload
I have one too
Shooting for ER: models to practice? Formatting? (Originally Posted: 04/15/2015)
Hey guys I'm a soon to be graduated econ student aiming for a career in ER. I'm taking the CFA level 1 in December, and was wondering what kind of modeling to be practicing in the mean time. I want to start generating my own reports for practice and was curious about which models are typically used in the industry, or even a basic template to use. Any help would be appreciated, trying to put my nose to the grindstone.
I'm currently a student however these are some of the resources I've been learning from recently;
http://research2.fidelity.com/fidelity/research/reports/release2/Resear… - Sign up for a free account there and you can search up a bunch of current reports
http://equity-research.com/reports/ - Reports from various banks
https://mega.co.nz/#!l10w0TiZ!Yam3hhs0oeXDzS3ikpGfUlifleugXc207BIx6Sj-f… - This is just a (very large) collection of assorted primers from a whole range of companies. Not sure how useful it will be but at the very least I find it interesting to look back at the forward-looking perspective from the early 2000s, now.
Aside from that, I'd recommend just start doing it. I initially spent some time- too much time looking for a proper "ER format," but there isn't one. Make some models and projections, articulate your reasoning behind the numbers and assumptions, repeat. VIC/SumZero/SA are decent-to-good as well.
my site has financial models that i've built from scratch. they're based on my time in eqr over the last five years. http://www.treetis.com
Hi, is your webside no longer available?
Easy Company to Practice 3 Statement Model (Originally Posted: 02/19/2018)
Hello all.
This is my first post on WSO. I am mostly doing this for fun, as I am at a non-target, but I am an analyst for my school's fund. I was wondering if you guys had any good companies that were simple to model. I am looking to build a somewhat complex model (i just built a relatively complex one) but one on a company that is pretty straightforward, and not in a dying industry such as retail. Please let me know if you have any suggestions!
Hey sullivandp1, I'm the WSO Monkey Bot...do any of these help:
Or maybe the following users have something to say: Meredith-Kramon @alaine989" @tk2417"
You're welcome.
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